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BAKERSFIELD, CA – CBRE Executive Vice President Philip D. Voorhees and Senior Vice
Presidents, Preston Fetrow and Kirk Brummer announced that they, in
conjunction with the National Retail Partners – West (NRP-West) team, completed
the sale of Riverlakes Village, a 92,212-square-foot grocery-anchored shopping
center in the city of Bakersfield, Calif.

The neighborhood shopping
center, which was 97 percent leased at the time of sale, is anchored by Vons
with a synergistic mix of high performing tenants such as CVS/pharmacy (NAP),
US Bank, Starbucks, Chipotle, Supercuts, Verizon Wireless, Carl’s Jr. (NAP),
and Bank of America (NAP).

According to Voorhees,
"The yield premium in the secondary markets such as the Central Valley, is
compelling for investors in today's low cap rate environment and Riverlakes
Village’s excellent grocery and restaurant sales, i.e. Chipotle, Steak and
Grape’s and Me-N-Ed’s Pizza, demonstrate the quality of this location.”

Built in 1997, Riverlakes
Village consists of six parcels totaling 9.48 acres at the southeast corner of
Coffee Road and Hageman Road. This intersection provides immediate access to
the area’s most established and affluent neighborhoods, which have an annual
household income averaging nearly $100,000.

According to Voorhees, the
CBRE team’s marketing system distributed more than 594 offering memoranda to
investors and brokers, and through the team’s "managed bid" offer
process, generated multiple offers to purchase the property.

The NRP-West team focuses
exclusively on retail investment properties in the western states (including
CA, OR, WA, ID, NV, MT, WY, UT, AZ, NM and HI).

The team's ability to
collaborate across CBRE's multi-discipline platform enhances the team's role as
strategic advisors to western U.S. clients in the disposition and acquisition
of retail properties and ensures the delivery of superior results in today's
investment market.

Based in Orange County,
Calif., the team consists of specialists with institutional and private client
relationships, and leverages institutional quality knowledge and service across
unparalleled access to private capital investors and the brokers who represent
them, domestically and around the world.

HFF worked on behalf of
the borrower, a joint venture between Geolo Capital and their local development
partners, Douglas Howe and Shawn Parry,
to place the floating-rate bridge loan with PCCP, LLC. Loan proceeds are being used to refinance the
existing construction loan.

Designed by Olson Kundig
Architects and completed in June 2016, Thompson Seattle Hotel was named the
2016 NAIOP Hospitality Development of the Year.

Bruce Ganong

The 100,906-square-foot
luxury boutique hotel’s guestrooms have floor-to-ceiling windows that either
overlook Pike Place Market or across Puget Sound.

The hotel features 3,000
square feet of meeting space; a state-of-the-art fitness center open 24 hours
and overlooking 1st Avenue; and two restaurant and beverage options, Scout and
The Nest rooftop bar, lounge and terrace, which was named “Best Rooftop Bar in
Seattle” by The Seattle Times.

CHICAGO, IL -– Evergreen
Real Estate Group announced Aurora St.
Charles Senior Living, the developer’s recently completed senior housing
community in Aurora, Ill., has been named the recipient of the prestigious
Richard H. Dreihaus Foundation Preservation Award for Rehabilitation by
Landmarks Illinois.

Completed in December
2016, the adaptive reuse project is one of nine winners that will be honored at
a September award ceremony celebrating efforts to elevate historic preservation
practice and advocacy in Illinois.

The $24 million
redevelopment transformed the former St. Charles Hospital, a historic Art Deco
building designed by Wybe J. Van der Meer, into a 60-unit affordable senior
housing complex.

Located at 400 E. New York St., the structure
was named to the National Register of Historic Places in 2010 but sat vacant
for more than five years until Evergreen Real Estate Group kicked off the
renovation in February 2016.

Aurora St. Charles Senior Living Facility, Aurora, IL

“The successful
redevelopment of the former St. Charles Hospital shows how communities like
Aurora can come up with creative solutions for buildings that are historically
significant yet underutilized in their current state – often due to
cost-prohibitive repairs,” said David
Block, director of development for Evergreen Real Estate Group.

“This project was an incredible example of
what can be achieved when public and private entities work together for the
benefit of the greater community. We are proud that Aurora St. Charles Senior
Living can serve as a model for future preservation projects throughout Aurora
and surrounding communities.”

ORLANDO, FL — Cushman
& Wakefield announced it has been named exclusive advisor in the
disposition of Palazzo del Lago, a
±41-acre mixed-use development site in the heart of Orlando’s tourist corridor.

The land brokerage team of
Senior Director Margery Johnson and
Senior Associate Andy Slowik were
selected by Chicago-based Highlands REIT, Inc. to market the site for sale.

Andy Slowik

Palazzo del Lago is a
40.89-acre parcel located on International Drive South, just north of State
Road 417 (The Central Florida GreeneWay). The site is ideally situated less
than three minutes from Interstate 4, six minutes from Walt Disney World, ten
minutes from Sea World and 15 minutes from Universal Orlando.

“Orlando’s impressive
visitor numbers and employment figures continue to flourish and International
Drive South has witnessed similar growth and development, including the
recently completed 314-unit Alexan Crossroads luxury apartment complex to the
south,” said Johnson.

Palazzo de Lago Site by Aerial Photo

“Palazzo del Lago
represents a rare opportunity for developers to gain control of a site with an
unparalleled location and waterfront access to Lake Bryan. We anticipate
significant investor interest in the parcel as a result.”

GAINESVILLE,
FL — Officials of a joint venture comprised of Peachtree Hotel Group (PHG), one
of the nation’s fastest-growing hotel investment and management platforms, and
Celebration Pointe Holdings (CPH) broke ground on the 140-room Hotel Indigo®
property in Gainesville, Fla.The hotel,
which will be operated by PHG, is expected to open in August 2018.

“The Hotel
Indigo Gainesville is one of the anchor tenants of the brand-new Celebration
Pointe, north central Florida’s premier mixed-use development, complete with
the area’s finest dining, entertainment, business and living options,” said Lee Shuman, PHG director of project
management.

“Gainesville has long since grown beyond being
just a ‘college town,’ and Celebration Pointe was designed to capture the
growing number of business and leisure travelers to the community.”

Strategically
located within the mixed development project between SW 49th Terrace and SW
50th Terrace, facing a park setting, the six-story hotel will feature plush
bedding, hard-surface flooring with area rugs and spa-inspired bathrooms. The
Hotel Indigo Gainesville will provide a neighborhood bar with seasonal and
locally sourced food in a stylish environment.”